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FINANCIAL NEWS
CPC unit to build solar plant in Saudi Arabia
24 Oct 2010
(MENAFN) Vision Electro Mechanical Company, a subsidiary of Saudi-based Construction Products Holding Company (CPC), has announced plans to build a 130KW solar power plant in the Kingdom’s Bahra region in alliance with California-based SolFocus, according to a press release.
A developer of concentrated solar power technology, SolFocus said the partners have also agreed to build at least eight other solar power stations for various other projects in Saudi Arabia.
As per the deal with SolFocus, Vision will market and install solar power systems to generate electricity, starting with solar power plant in CPC�s Bahra industrial complex, which will be the region’s largest planst using CPV technology, said a top official.
Vision was formed last August with a capital of $174 million to develop, manufacture and operate solar power plants in Saudi Arabia.
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